How much pension should I have at 64?

The median UK pension pot at age 64 is around £171,500. However, whether that is enough depends on the retirement lifestyle you want. For a moderate retirement (£31,300/yr), you would need a pot of roughly £395,960 by age 67, assuming full state pension.

What is the average pension pot at 64 in the UK?

Based on ONS data, the median pension pot for someone aged 64 in the UK is approximately £171,500. The mean (average) is typically higher because a small number of very large pots skew it upward — the median is a more useful benchmark for most people.

Am I behind on my pension at 64?

It depends on your target. If you have £171,500 or more at age 64 and you are contributing at least £420/month, you are around the median. But the median saver is not necessarily on track for a comfortable retirement. Use a retirement readiness calculator to check whether your specific pot and contributions will meet your goals.

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Pension at 64

How much pension should you have at 64?

The median UK pension pot at age 64 is around £171,500. But is that enough? It depends on the retirement you want. Here are the numbers for all three PLSA living standards — and what you can do if there's a gap.

Median pension pot at 64

£171,500

Based on ONS Wealth and Assets Survey data (illustrative)

Typical monthly contribution

£420/mo

Years to state pension

Projected pot at 67

£210,873

Target pot at 67 by lifestyle

Getting by

£14,400/yr

£57,960

needed by 67

Median saver: 100%+ on track

Living well

£31,300/yr

£395,960

needed by 67

Median saver: 53% on track

Enjoying life

£43,100/yr

£631,960

needed by 67

Median saver: 33% on track

Assumes full state pension (£11,502/yr from 67), retirement to age 87, and median pot with typical contributions growing at 5% minus 0.75% fees.

What extra contributions from 64 could produce by 67

£100/month

+£3,832over 3yr

£200/month

+£7,665over 3yr

£300/month

+£11,497over 3yr

£500/month

+£19,162over 3yr

These are additional contributions on top of what you already save. Growth assumed at 5% nominal minus 0.75% fees.

Want your personal score?

The median tells you where most people are. Our retirement readiness calculator tells you where you are.

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Approaching retirement — what to think about at 64

At 64, you may be within a few years of retiring — or considering working part-time. The key question now is not "how much do I have" but "how do I turn this pot into an income that lasts?"

If you're considering taking your 25% tax-free lump sum, think carefully about timing. You don't have to take it all at once — phased withdrawals can be more tax-efficient and keep more money invested for longer.

Before making any withdrawal decisions, check whether your pension has any valuable guarantees — some older schemes offer guaranteed annuity rates that are far better than anything available on the open market today. Once you give up a guarantee, you can't get it back.

Useful calculators

Pension by age

Age 25 Age 30 Age 35 Age 40 Age 45 Age 50 Age 55 Age 60 Age 65

Things to consider

•Median pot figures are illustrative estimates derived from ONS Wealth and Assets Survey data. Your actual pot depends on your contribution history, employer match, fund choice, and fees.
•Target pots use the PLSA Retirement Living Standards (2024/25 single-person figures) and assume full state pension from age 67, with retirement lasting to age 87.
•Projections use 5% nominal growth and 0.75% annual fees. Actual returns will vary. Figures are in nominal terms and do not account for inflation.
•Being above or below the median says nothing about whether you personally are on track — it depends on your target lifestyle, other savings, property wealth, and state pension entitlement.
•This is general information, not personal financial advice. For personalised guidance, speak to an FCA-regulated financial adviser.

This calculator provides estimates based on 2025/26 tax rates and is not financial advice. Scottish taxpayers are subject to different income tax rates and bands. The calculations assume your salary is your only source of income and do not account for benefits in kind or other taxable income.

For personalised guidance on your pension contributions, speak to an FCA-regulated financial adviser. You can find one via Unbiased or VouchedFor.